What if the ATM machine near you start clearing cheques and do all other
routine works done by humans at banks? Believe it or not, but this has
now been made possible. Leading ATM maker NCR Corporation has developed
an ATM that can encash cheques - That too within just one minute!

Two private banks have deployed the new ATM as a pilot project in Gurugram and Bengaluru.

How the ATM clears cheque

First of all, a customer has to connect with 'Live Teller' of the ATM.
The new machine lets you do this with just one click. After selecting
the preferred language, you will be connected directly to the bank's
staff. Once the connection is established, the full control of the ATM
will be in the hands of the bank staff.

The bank staff will tell you about the further process. After depositing
the cheque at a designated place, you will be asked for authentication
document which you will be able to scan in the ATM itself. After the
authentication, you will have to sign on the screen. Soon after the
verification within a minute, you will get cash in your hands.

While getting the cheque cleared, you will also have the option of
selecting the denomination of the currency notes you want to get.

The new ATM can encash both local and outstation cheques if the bank has
an arrangement with the another bank. You can take the benefit of the
new facility for the entire week 24x7.

Apart from encashing cheque, the new ATM can work as a bank's branch in
itself. A customer will be able to withdraw cash even without ATM card
with the help of Aadhaar number. For that you will have to do biometric
authentication. Cash deposit and KYC update can also be done in the new
ATM.